General chatter - Anyone familiar with divorce laws in NYS?




Christina7806
02-13-2007, 09:59 AM
If anyone here can answer this question, I would greatly appreciate it.

My husband and I own a house. I moved out over 5 years ago and he stayed and paid on it. Now, he is ready to file for divorce which I am absolutely fine with. He wants me to sign a paper releasing me from the mortgage, and I assume he will want me to sign one for the deed as well. My question is this. I do not want the house, I have no interest in fighting for it. However, I would like some kind of compensation for the 10+ years I did live there and worked and took care of the kids so that the mortgage could be paid. I will need to purchase a house (My current job includes all housing but I can't stay here forever). The house is small and we bought it cheaply (60,000 in 1988). Am I entitled to any money or should I just let it go? If anyone has been through this kind of thing, please email me or PM me. Thanks so much!!


fitbyforty
02-13-2007, 10:34 AM
My guess is you are entitled to a portion of the equity you built during that 10 years.I would not sign anything until I talked to a laywer.

Ash15+
02-13-2007, 11:30 AM
I believe that you are entitled to half of the current value of the house. It doesn't matter what you paid for it when you bought it, the current value is what you should look at. Definitly make sure you speak to a lawyer before you do anything, I think you are entitled to more than you think.


EZMONEY
02-13-2007, 12:02 PM
Absolutely consult a lawyer. When my ex left, years ago, she was entitled to half the equity from the time we were married until she left ~ less the down payment, which came from the sale of another home I owned before I met her ~ then nothing after she left, as she didn't contribute to the mortgage. That was in 1989 though in California. Good luck.

techwife
02-13-2007, 12:43 PM
Two things. One...get a lawyer. Don't go with sharing one with the soon-to-be-ex husband. You want one that is looking out for YOU.

Two...I believe you are entitled to half the house. Period. My husband divorced in NY and he was entitled to it, but didn't take it. He just wanted out of the marriage and let her keep everything but the snowblower (he has his priorities ;) ) But you are probably entitled to half the house. He would either have to sell it or pay you your half if you persue it. If you only want half of the equity you paid into it, then that's your choice. There is a couple that lived across the street from us and they bought their house about the same time we bought ours. They divorced after about two years and they sold it and split it. In all fairness...it's almost best for a divorcing couple (except for if there's kids involved) to sell, split it and go their separate ways. Who wants to walk around a house with all those memories of a failed marriage? I wouldn't. In my opinion, if there's kids, the custodial parent should stay and raise the kids in the house they're accustomed to, but if no kids are involved, just split and start over, imho.

FrouFrou
02-13-2007, 04:34 PM
Nothing really to add to this as I think everyone has said it all. Just talk to a lawyer (not his I say this because a friend of mine used her hubby's lawyer until she finally figured out it wasn't in her best interest) before doing anything and DO NOT sign anything over to him.